Apple invites go out, 3 new iPhones expected at event
Loup Ventures Managing Partner, Gene Munster, on President Trump calling on U.S. companies to shift manufacturing out of China and what it would mean for companies such as Apple.
Apple just sent invitations to members of the media for its special event that is expected to unveil new iPhone models giving the stock an extra boost.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 225.00 | -3.22 | -1.41% |
The event, which will occur on Sept 10, will be held at the Steve Jobs Theater on Apple’s campus in Cupertino, California.
Apple is expected to unveil three new iPhone models, as well as updates to other products, according to reports. At last year’s event, the tech giant released the iPhone XS, the iPhone XS Max and the iPhone XR.
The event will occur less than a month after Apple received a trade-war break when the U.S. Trade Representative’s office said the tariffs that were set to hit $300 billion, including Apple products, would be delayed from Sept 1. until Dec. 15.
A day later, President Trump dined with Apple CEO Tim Cook to discuss the tariffs. At the meeting, Cook expressed his concerns about how Apple products would be hit with tariffs, but those produced by South Korean rival Samsung would not.
President Trump on his conversation with Apple CEO Tim Cook about the impact of tariffs.
"Tim was talking to me about tariffs," explained the president. "One of the things, he made a good case, is that Samsung is their No. 1 competitor and Samsung is not paying tariffs because their based in South Korea.
He added: "I thought he made a very compelling argument, so I'm thinking about it.
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On July 31, Apple reported second-quarter results that topped Wall Street expectations on both the top and bottom lines as growth in its services business offset weakness in iPhone sales. The company recently launched its Apple Card, which was born out of a partnership with Goldman Sachs.